Asia-Pacific low voltage DC circuit breaker market is estimated to grow at a CAGR of 8.8% during the forecast period. Asia-Pacific low voltage DC circuit breakers market is being significantly driven by the emerging demand for solar panels and growth in the electric vehicles market in the region. A significant rise in the demand for electric vehicles has been reported in China, which in turn, is driving the market growth. For instance, as per the International Energy Agency (IEA), Electric car deployment has been growing rapidly over the past ten years, with the global stock of electric passenger cars passing 5 million in 2018, an increase of 63% from the previous year. Around 45% of electric cars on the road in 2018 were in China, which is 2.3 million.
To Request a Sample of our Report on Asia-Pacific Low Voltage DC Circuit Breaker Market: https://www.omrglobal.com/request-sample/asia-pacific-low-voltage-dc-circuit-breakers-market
In comparison, Europe accounted for 24% of the global fleet, and the US represented 22%. This, in turn, contributes to the demand for DC circuit breakers as electric cars have a fuse box with DC circuit breakers. It is also used in electric vehicles charging stations as its entire system works with direct current. DC circuit breakers are used for personnel and property protection, protection against fire and additional protection against short circuits and faults. For electric vehicle charging process, the process must run safely from the view of the electric site. Therefore, electronic circuit breaker techniques are used in electric vehicle charging stations for desired protection function in case of all residual current types.
(Get 15% Discount on Buying this Report)
A full Report of Asia-Pacific Low Voltage DC Circuit Breaker Market is Available at: https://www.omrglobal.com/industry-reports/asia-pacific-low-voltage-dc-circuit-breakers-market
Asia-Pacific Low Voltage DC Circuit Breaker Market Segmentation
By Type
- Air Circuit Breakers (ACB)
- Molded Case Circuit Breakers (MCCB)
- Miniature Circuit Breakers (MCB)
By Application
- Residential
- Commercial
- Industrial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
